Pakistan Govt Buys 55,000 Tons of Sugar in Latest Tender
Pakistan’s Trading Corporation has secured 55,000 t of white sugar through two import deals — 30,000 t from Al Khaleej Sugar at \$586/t c\&f and 25,000 t from Louis Dreyfus at \$580/t c\&f — as prices exceed Rs 200/kg. The government plans to import 500,000 t to stabilise supplies amid inflation and market manipulation concerns.
Islamabad 14 August: Pakistan’s state-run Trading Corporation of Pakistan (TCP) has finalised deals to purchase 55,000 metric tons of white sugar in its latest international tender, as the country grapples with a worsening sugar crisis and rising retail prices.
According to media reports the tender, which closed earlier this week and sought offers for up to 100,000 tons, attracted four bids. TCP awarded two contracts — 30,000 tons of medium-grade sugar to Dubai-based Al Khaleej Sugar at $586 per ton (cost and freight included) and 25,000 tons of fine-grade sugar to Louis Dreyfus Company at about $580 per ton c&f.
One additional bidder has been asked to revise its offer, raising the possibility of another purchase award later this week, traders said.
READ MORE: Sugar Barons and the Ongoing Crisis in Pakistan’s Sugar Industry
The procurement is part of a broader federal government plan to import 500,000 tons of sugar to stabilise domestic prices, which have surged sharply in recent weeks amid tight supplies and alleged market manipulation.
Sugar prices in several parts of the country have risen well above Rs200 per kilogram, putting pressure on household budgets and prompting the government to step up imports to plug supply gaps.
Industry insiders warn that unless domestic production improves and speculative hoarding is curbed, the crisis could worsen ahead of the festive season, forcing further imports and increasing the import bill at a time when Pakistan is already battling inflationary pressures and foreign exchange constraints.
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Source : Bloom Pakistan
